“We must admit that as a country, we had been living large and way beyond our means. Chinese loans grew from Ksh63 billion to Ksh478 billion within the five years, making the Asian economic giant Kenya’s biggest bilateral lender. Last week, Odinga’s Orange Democratic Movement party sought to link the IMF and the World Bank to the cost of living woes. They suggested that the government explore ways of cushioning households against the rising cost of living, including reintroducing the fuel subsidy or removing some fuel taxes. Read: Kenya’s fuel taxes beat SA, US on higher VATFuel taxes in Kenya account for at least 40 percent of the cost of every litre of super petrol and diesel.

Source: Daily Nation November 12, 2023 10:00 UTC